Use current contract pace and sale timing to decide how aggressive to be
If you are trying to decide how aggressive your offer needs to be in Dix Hills, NY, I would not guess. Recent contract activity and sale timing give you a much better guide, and they point to a market where speed matters, but discipline matters just as much.
Recent pending activity gives a strong clue about the pace in Dix Hills, NY. Over the previous 30 days, 24 homes went into contract with a typical asking price of $1,323,000. Those homes moved to contract in about 31 days, and the typical asking pace was $433 per square foot. For buyers, that says homes are being chosen with purpose, not drifting around for months.
At the same time, sold homes closed at $1,097,000 and took about 40 days. That difference between pending pricing and closed pricing tells me you need to judge each home carefully before assuming the first number is the right number. In Dix Hills, NY, offers are still landing near asking overall at 99.7%, but that does not mean every listing deserves the same response. I would separate the well-positioned homes from the optimistic ones fast.
Decide your walk-away number before you tour. Use the recent 31 day contract pace to move quickly when a home is priced in line with the market. Compare pending pricing with recent closings before writing. If the value is not there, stay patient and keep your leverage.
